Premier Financial Bancorp Inc. (PFBI) Monday reported an increase in profit for the second quarter, driven mainly by lower loan loss provisions.
The Huntington, West Virginia-based company's second-quarter net profit available to common shareholders was $1.79 million or $0.22 per share, compared to $724 thousand or $0.09 per share last year.
Net interest income for the quarter dropped to $10.31 million from $11.37 million in the year-ago quarter. Total non-interest income decreased to $1.63 million from $1.73 million in the prior-year quarter.
Loan loss provisions for the quarter plunged to $750 thousand from $1.82 million last year.
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